I Squared Capital acquires Spire’s natural gas storage assets in Wyoming and Oklahoma for $650 million

Type: Sale · Technology: Gas · Country: United States · Value: $650M · Announced: 2026-04-16

Spire Inc. and I Squared Capital, a global infrastructure investment manager, announced an agreement for I Squared to acquire Spire’s natural gas storage assets located in Wyoming and Oklahoma for a total consideration of $650 million. The transaction includes $600 million in cash at closing and a $50 million fixed, non-contingent deferred payment to be received by Spire in its fiscal 2027. Proceeds from the sale will partially fund Spire’s previously completed acquisition of the Piedmont Natural Gas Tennessee business, which closed on March 31, 2026. I Squared Capital plans to enhance the operational capabilities of the acquired assets and pursue expansion opportunities to meet rising demand for natural gas storage across the Western and Mid-Continent regions of the United States.

Counterparties

Source article